Idorsia Pharmaceuticals Ltd Announces Unaudited Financial Status and Bondholder Meeting Update

Idorsia Pharmaceuticals Ltd, a leading biopharmaceutical company headquartered near Basel, Switzerland, has recently made an ad hoc announcement regarding its Unaudited Financial Status as of March 31, 2024. This information is crucial for an upcoming bondholder meeting, which is now planned for early May.

The company, listed on the SIX Swiss Exchange, is currently engaging with bondholders to discuss options and terms regarding the repayment of a convertible bond maturing on July 17, 2024. As a result of these ongoing discussions, the bondholder meeting, initially scheduled for April 30, 2024, will be postponed to a later date.

André C. Muller, Chief Financial Officer of Idorsia, stated, “We have had many interactions with our bondholders in the past week. We are finalizing our proposed amendment to the terms and conditions of the bond, taking into account the bondholder needs as well as our objective to avoid unnecessary dilution. We expect to publish the invitation to the bondholders meeting in the next few days.”

Idorsia is dedicated to developing innovative drugs and transforming the horizon of therapeutic options for patients. With a strong scientific core and a broad portfolio of drugs in the pipeline, the company aims to become a leading player in the biopharmaceutical industry.

For further information, interested parties can contact Andrew C. Weiss, Senior Vice President, Head of Investor Relations & Corporate Communications at Idorsia Pharmaceuticals Ltd. The company’s contact information can be found on their website.

The company’s forward-looking statements reflect their current views and plans for the future, but are subject to certain risks and uncertainties. Despite these challenges, Idorsia remains committed to realizing its ambitious targets and bringing innovative medicines to patients worldwide.